Spain, France and the United Kingdom are at the risk of losing their credit rating because of their skyrocketing public debt.

According to the Fitch rating agency, the three nations have to take more secure measures to minimize their public debt otherwise it will reduce their sovereign ratings from AAA, the highest rating available.

Moreover, the agency has predicted that if the three nations public debt keeps increasing at the same speed, it will amount to more than 90% of their GDP by 2011. By contrast, Korea’s public debt stands at 35% of GDP.

The debt of three countries increased because of the pump-priming measures that dug deep into the public coffers since the global financial crisis last year. The United Kingdom has already invested around 50 billion pounds of public funds, increasing the proportion of public debt to GDP to 60% in November 2009, from less than 40% before the recession period.

On the other hand, Spain’s public debt stood at 70% of GDP till October due to stimulus measures to prevent a housing worry from bursting. However, France has managed to maintain sound fiscal health but launched a plan to issue bonds worth 35 billion euro in 2010 to offer an additional rise for the economy, assuming a hike in the public debt in early 2010.